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Bubble-Tea Maker Triples in Hong Kong Stock Market Debut

  • B & S makes city’s strongest main-board debut in two years
  • Investors chase hot deals as IPO subscription ratio jumps
Pearl milk tea

Photographer: iStockphoto

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Just when you thought Hong Kong’s IPO market couldn’t get any frothier, a bubble tea maker just surged 298 percent in its debut.

Shares of B & S International Holdings Ltd., known for a famous franchise called TenRen, staged the strongest mainboard debut in two years, closing at HK$3.98, after selling initial shares at HK$1. With orders for 2,601 times the shares for retail investors, the IPO was the most oversubscribed among 51 Hong Kong IPOs this year, and the second most ever. Trading volume is about 3.7 times the 100 million shares sold in the offering.